Financial Aid FAQ

What is Financial Aid?

Financial Aid is money provided to the student and the family to help them pay for the student's education or which is conditioned on the student's attendance at an educational institution. Major forms of financial aid include gift aid (grants and scholarships) and self-help aid (loans and work).

I don't think I qualify for Financial Aid, should I even bother applying?

You should apply. Every student who submits a completed Free Application for Federal Student Aid (FAFSA) might be eligible to receive at minimum a fixed interest rate non-need based unsubsidized Direct loans.

Is there a difference in Financial Aid between undergraduate and graduate Students?

Yes. Undergraduate students may be eligible for federal grants and additional grant money from SNHU. Undergraduate day students have additional financial aid resources available to them. Graduate level students are only eligible for Direct Loans.

No one is helping me pay for college; that makes me an independent student, right?

The federal government determines your dependency status by asking a series of questions on the Free Application for Federal Student Aid (FAFSA). If you indicate no to each of these questions, you are a dependent student.

SNHU will receive your FAFSA information from the federal government approximately 3-5 business days after they have processed your completed application. You will receive an email from the federal processor when your information has been released to SNHU.

I have been selected for Federal Verification, did I do something wrong?

No. Approximately 30% of all students who apply for financial aid are selected for Federal Verification. Visit the Student Award Guide for additional information about Federal Verification.

You offered me more federal loans than I need, why?

At SNHU, you are offered the maximum amount of loans that you are eligible to receive. It is recommended that you borrow only what you need. You may choose not to borrow the full amount you are offered by making an adjustment on your financial aid award letter.

How do I use Financial Aid to pay for my books?

You are required to pay for your books out of pocket. Subsequently, if the amount of your financial aid per term or semester exceeds the cost of your tuition and fees, you will be able to reimburse yourself for the cost of your books through the refund process.

I received financial aid refunds from my previous school, how does SNHU process these refunds?

Visit SNHU's refund page to find out about student account refunds.

I am coming back to school, how do I defer my loans?

Fill out the Enrollment Verification Request Form and fax it to our Registrars office at 603.629.4647.

My income this year is much less than last year, should I let you know?

Yes. You may request the Office of Financial Aid to review your current situation through the appeal process